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  1. Point in time
    2011-03-06

FINMAR 3.1 Application and purpose

Application

FINMAR 3.1.1G

1FINMAR 3 is relevant to firms subject to the powers in Parts 1 to 3 of the Banking Act 2009 (the Banking Act), that is, UK incorporated firms with a Part IV permission to carry on the regulated activity of accepting deposits, other than credit unions, firms with a Part IV permission to effect or carry out contracts of insurance and any other class of institution specified in secondary legislation.

Purpose

FINMAR 3.1.2G

The purpose of FINMAR 3 is to provide guidance on assessing Condition 2 under section 7(3) of the Banking Act.